Most people would agree that a divorce settlement is a much more favorable option than litigation. With a settlement, there is room for compromise and conversation, as opposed to judge determining all of the outcomes. However, as the settlement experience can still be very stressful and tense for each party, it can be best to go through a divorce settlement checklist to ensure that you have not left out any significant details in your settlement.
If you take the time to thoroughly answer these 20 questions, you will be much more prepared to seek a successful divorce settlement:
Questions About The Children
Divorce becomes much more complicated when children are involved. Below are some key pieces of information to have ready:
- Who will have joint or sole legal custody of each child?
- Is your child adopted and will there be any special issues regarding the adoption degree to consider?
- What is your ideal day-to-day schedule for each child?
- What is your ideal vacation schedule for each child? How many weeks of vacation time will each parent spend with the children?
- What do you want your holiday schedule to look like? Determine which parent the children will be with for each major holiday.
- When will the children have breaks from school? Decide which parent they will spend those breaks with.
- Are there any rules or restrictions regarding telephone contact with the other parent?
- Who will transport the children when they are to be exchanged between parents?
- Which parent will maintain insurance coverage for the children?
- Who will claim the children for income tax purposes?
- How much will each parent pay toward childcare, such as daycare services or tuition?
- How much will each parent pay toward basic child support?
Financial and Legal Questions
As a married couple, you are joined legally and financially. There are many questions you need to ask yourself as you separate these connections:
13.How is marital debt to be divided?
14.If alimony is to be paid, how much is expected, and how long is it to be paid?
15.Who is responsible for attorney fees, or will they be divided equally?
16.Will either spouse be changing his or her name?
17.How will marital property be fairly valued and divided?
18.Does each spouse agree to complete any paperwork necessary to transfer property or assets?
19.Does each party agree to employ the aid of a mediator should future parenting or financial conflicts arise?
20.If one party has hidden marital assets, does the court retain the ability to reopen the case?
Of course, each divorcing couple’s story is going to be different and complicated, but asking these questions and having this information ready will help the settlement process proceed more smoothly and quickly while also preventing the omission of any important issues.